CVS announced Feb. 3 that it will drop three directors from its 16-member board to “further align with corporate governance best practices.”
Mr. Bertolini, who joined the board in November 2018 after CVS finalized its acquisition of Aetna, is one of the directors who will depart.
CVS said Mr. Bertolini would leave “following the successful integration of the Aetna business.”
But Mr. Bertolini told the Journal that the integration between the two organizations isn’t complete. He also said he was willing to stay on the board.
“I was willing to continue to serve on the board of directors in support of the most transformative effort in healthcare for our nation. However, the board thought otherwise,” Mr. Bertolini told the Journal. He added that the “integration is far from over.”
Richard Swift, former chairman of the board, director of CVS Health and CEO of Foster Wheeler and Richard Bracken, former chairman and CEO of Nashville, Tenn.-based HCA Healthcare, also will leave the board.
The board changes will go into effect after the company’s annual shareholder meeting. The date of that meeting has not been set. Last year’s meeting was in May.
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